EDB appoints new Chief Financial Officer

EDB appoints new Chief Financial Officer

(Oslo, 20 October 2003) EDB Business Partner ASA has appointed Tore Valderhaug (43) as Executive Vice President - Chief Financial Officer. Mr Valderhaug will take up his position by the end of 2003 at the latest.

Knut T. Olsen, who is currently acting CFO, will return to his position as Vice President - Finance and Administration of EDB IT Operations when Mr Valderhaug joins EDB.

Tore Valderhaug joins EDB Business Partner from ProCorp ASA, where he is currently a partner and financial consultant. Mr Valderhaug has been with ProCorp since 2001. Prior to this he was the Chief Financial Officer of Ask Proxima until Ask Proxima ASA merged with InFocus Corporation in 2000, and he continued with the merged company as Vice President Finance for Europe and Asia until 2001. Mr Valderhaug's previous appointments include Chief Financial Officer of Ocean Rig (1997-99) and Chief Financial Officer of Unitor (1995-97).

Tore Valderhaug is a state authorised public accountant and an accounting graduate of the Norwegian School of Economics and Business Administration.

"The appointment of Tore Valderhaug completes the executive management team, and he will add experience and expertise that we need to realise our ambitions", comments Endre Rangnes, Chief Executive Officer of EDB Business Partner ASA.

Any enquires may be addressed to:

Endre Rangnes, CEO, Tel. + 47 23 32 45 01

Tore Valderhaug, Tel. + 47 99 56 09 25